100,000 Shares in Micron Technology, Inc. (NASDAQ:MU) Bought by Peconic Partners LLC

Peconic Partners LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the semiconductor manufacturer’s stock, valued at approximately $8,534,000. Micron Technology makes up approximately 0.4% of Peconic Partners LLC’s investment portfolio, making the stock its 7th largest position.

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp lifted its position in Micron Technology by 0.7% during the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares during the last quarter. Invesco Ltd. lifted its position in Micron Technology by 11.8% during the 3rd quarter. Invesco Ltd. now owns 8,807,926 shares of the semiconductor manufacturer’s stock worth $599,203,000 after acquiring an additional 927,302 shares during the last quarter. Merlin Capital Inc acquired a new position in Micron Technology during the 3rd quarter worth $407,000. TCW Group Inc. lifted its position in Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after acquiring an additional 28,649 shares during the last quarter. Finally, Savoie Capital LLC acquired a new position in Micron Technology during the 3rd quarter worth $4,229,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $141.36 on Friday. Micron Technology, Inc. has a 1-year low of $60.50 and a 1-year high of $144.22. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm’s 50-day moving average price is $123.49 and its two-hundred day moving average price is $101.41. The stock has a market capitalization of $156.54 billion, a price-to-earnings ratio of -40.97 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm earned ($2.03) earnings per share. Micron Technology’s revenue was up 57.7% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 0.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.33%. Micron Technology’s payout ratio is presently -13.33%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MU shares. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, March 21st. TD Cowen upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. Wedbush upped their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, March 21st. KeyCorp upped their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Mizuho upped their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $130.16.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $113.38, for a total value of $5,102,100.00. Following the transaction, the chief executive officer now directly owns 758,557 shares of the company’s stock, valued at $86,005,192.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $113.38, for a total value of $5,102,100.00. Following the transaction, the chief executive officer now directly owns 758,557 shares of the company’s stock, valued at $86,005,192.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the transaction, the senior vice president now directly owns 138,387 shares in the company, valued at $17,079,723.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 372,446 shares of company stock valued at $44,478,193. 0.32% of the stock is currently owned by insiders.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.